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Geographic and Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

We operate under three geographic regions: U.S., Europe, and Rest of World. The table below presents net sales by operating segment and geographic region (in thousands):

						Year Ended December 31,
						2021						2020						2019
Cardiopulmonary
United States						$	154,073					$	132,543					$	161,471
Europe						134,562						122,062						135,632
Rest of World						194,344						192,127						207,613
						482,979						446,732						504,716
Neuromodulation
United States						358,476						282,509						335,332
Europe						51,435						39,019						46,262
Rest of World						46,261						32,916						42,953
						456,172						354,444						424,547
Advanced Circulatory Support
United States						53,821						41,094						30,781
Europe						1,120						1,027						741
Rest of World						518						200						401
						55,459						42,321						31,923
Other (1)
United States						4,929						12,488						18,900
Europe						14,407						31,259						40,548
Rest of World						21,419						46,997						63,536
						40,755						90,744						122,984
Totals
United States						571,299						468,634						546,484
Europe (2)						201,525						193,367						223,183
Rest of World						262,541						272,240						314,503
Total (3) (4)						$	1,035,365					$	934,241					$	1,084,170

(1)Other primarily includes the net sales of the Company’s Heart Valves business, which was disposed of on June 1, 2021.

(2)Europe sales include those countries in which we have a direct sales presence, whereas European countries in which we sell through distributors are included in Rest of World.

(3)Net sales to external customers includes $35.8 million, $29.7 million and $37.7 million in the United Kingdom, our country of domicile, for the years ended December 31, 2021, 2020 and 2019, respectively.

(4)No single customer represented over 10% of our consolidated net sales. No country’s net sales exceeded 10% of our consolidated sales except for the U.S.

The table below presents a reconciliation of segment income (loss) from continuing operations to consolidated loss from continuing operations before tax (in thousands):

						Year Ended December 31,
						2021						2020 (1)						2019 (1)
Cardiopulmonary (2)						$	(6,429)					$	35,735					$	50,533
Neuromodulation (3)						169,499						109,273						83,333
Advanced Circulatory Support						2,195						(575)						3,941
Other (4) (5)						(129,082)						(365,116)						(233,275)
Total reportable segment income (loss) from continuing operations						36,183						(220,683)						(95,468)
Other expenses (6)						36,967						53,216						76,086
Operating loss from continuing operations						(784)						(273,899)						(171,554)
Interest income						435						131						803
Interest expense						(50,151)						(40,837)						(15,091)
Loss on debt extinguishment						(60,238)						(1,407)						—
Foreign exchange and other gains/(losses)						(13,734)						(32,010)						(2,536)
Loss from continuing operations before tax						$	(124,472)					$	(348,022)					$	(188,378)

(1)Segment loss from continuing operations for the years ended December 31, 2020 and 2019 have been revised. For further details refer to “Note 1. Nature of Operations.”

(2)Results for the years ended December 31, 2021, 2020 and 2019 include a Litigation provision, net of $38.1 million, $3.9 million and $(0.6) million, respectively. Refer to “Note 13. Commitments and Contingencies” for additional information.

(3)Results for the year ended December 31, 2019 include the ImThera impairment of the IPR&D asset of $50.3 million. Refer to “Note 7. Goodwill and Intangible Assets” for additional information.

(4)Results for the year ended December 31, 2020 include $180.2 million and $21.3 million in impairments of the Heart Valves disposal group and allocated goodwill, respectively. Refer to “Note 4. Divestiture of Heart Valve Business” for additional information. Additionally, the results for the year ended December 31, 2020 include a $42.2 million decommissioning provision at our Saluggia site. Refer to “Note 13. Commitments and Contingencies” for additional information. Results for the year ended December 31, 2019 include the Caisson impairments of goodwill and the IPR&D asset of $42.4 million and $89.0 million, respectively. Refer to “Note 7. Goodwill and Intangible Assets” for additional information.

(5)Other includes the results of the Company’s Heart Valves business, which was disposed of on June 1, 2021, and corporate shared service expenses for finance, legal, human resources, information technology and corporate business development.

(6)Other expenses consists of merger and integration expense, restructuring expense and amortization of intangible assets.

Assets by reportable segment as of December 31, 2021 and 2020, was as follows (in thousands):

Total Assets						2021						2020 (1)
Cardiopulmonary						$	921,481					$	1,040,318
Neuromodulation						646,394						673,579
Advanced Circulatory Support						231,846						239,404
Other (2)						401,230						446,660
						$	2,200,951					$	2,399,961

(1)Total assets as of December 31, 2020 have been revised. For further details refer to “Note 1. Nature of Operations.”

(2)Other includes corporate assets as of December 31, 2021 and 2020, and the assets of the Company’s Heart Valves business, which was disposed of on June 1, 2021 as of December 31, 2020.

Capital expenditures by segment were as follows (in thousands):

						Year Ended December 31,
Capital Expenditures						2021						2020						2019
Cardiopulmonary						$	14,824					$	20,975					$	16,302
Neuromodulation						179						7,318						3,415
Advanced Circulatory Support						1,326						733						540
Other (1)						5,984						6,890						7,720
						$	22,313					$	35,916					$	27,977

(1)Other includes corporate capital expenditures as well as capital expenditures for the Company’s Heart Valves business, which was disposed of on June 1, 2021.

Long-lived Assets by Geographic Areas

Property, plant and equipment, net by geographic region as of December 31, 2021 and 2020, was as follows (in thousands):

Property, Plant and Equipment, Net						2021						2020
United States						$	60,852					$	64,553
Europe						85,313						93,821
Rest of World						3,901						5,431
						$	150,066					$	163,805

X

- Definition

Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets.

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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